Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
Web-based sales at J. Jill slipped 8.5% in Q3 to $14.2 million while companywide sales grew 2.9%.
Web-based sales at J. Jill Group Inc. slipped 8.5% in Q3 to $14.2 million from $15.4 million a year ago while companywide sales grew 2.9% to $82.3 million from $80 million. For the first nine months, web sales grew 9.2% to $49. 8 million from $45.5 million while total sales grew 9.3% to $262 million from $239.7 million.
Third quarter sales productivity in the direct segment, as measured by demand per 1,000 square inches circulated via catalogs, was down by 35% while retail sales per square foot declined by 4% when compared to last year. Net loss for the quarter was $2.9 million versus net income of $3.6 million in the third quarter of last year. Net income for the nine months was $4 million versus $12.7 million a year ago.
J. Jill reported that it will reduce the number of pages in its catalogs by 15% and keep a lid on new store openings.